Airdrie residential sales year to date (YTD) is sitting at 897 units, which is 3 per cent higher than the same time last year. According to Calgary Real Estate Board (CREB) in the Calgary and area, “New listings are easing and is helping to chip away at existing inventory, compared to the higher levels recorded last year. However, the pace of year-over-year decline has eased as inventory levels have trended up relative to levels recorded a few months ago.”
CREB’s YTD stats indicate an average Airdrie residential home price of $371,649, compared to $376,890 in 2019 – down 1.4 per cent from last year. 2020 YTD monthly inventory is 4.10 months (just into a buyers market, which is defined as more than four months of inventory), compared to 4.76 months in 2019. The YTD days-on-the-market (DOM) stats are sitting at 63 days, down five days from last year.
Total detached single-family home sales are up nearly five per cent, from 600 in 2019 to 631 January to August YTD, averaging 61 days on market YTD, down from 2019’s average of 67 DOM. The average sales price for detached homes YTD is $421,186, compared to 2019’s average of $426,464. Detached homes are sitting at 3.77 months of inventory (a balanced market, defined as two to four months of inventory).
Townhouse (row) sales are 150 YTD as compared to 151 in January to August of 2019. Currenty, DOM YTD is 63 days and townhome stats are showing 6.14 months of inventory (a buyer’s market, and unchanged from last year YTD). The average sales price for townhomes YTD is $250,202, compared to $263,834 year-end for 2019 (down 5.44 per cent).
Apartment home sales are up to 50 YTD sales – or 10 per cent – as compared to 45 sales from January to August of 2019. The current DOM is 70, compared to 2019’s average of 76. Average YTD sales price for apartments dropped from $170,857 in 2019 to $168,951 – a 1.2 per cent decrease. The apartment market remains a buyers market with 7.97 months inventory YTD, compared to 7.43 for 2019.
Semi-detached homes moved into a balanced market with 3.28 months of inventory YTD. The average price is $327,616, relatively unchanged from last year. DOM have decreased to 78 compared to 89 last last years.
The City of Airdrie usually reports on Airdrie’s population but due to COVID-19, no census was conducted this year.
Gary Lock is a local Realtor® with CIR Realty and has lived in Airdrie for the past 36 years.